REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
30 JUNE 2023 |
FOR |
WAY GROUP LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
30 JUNE 2023 |
FOR |
WAY GROUP LIMITED |
WAY GROUP LIMITED (REGISTERED NUMBER: 03166213) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
WAY GROUP LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Forest Links Road |
Ferndown |
Dorset |
BH22 9PH |
WAY GROUP LIMITED (REGISTERED NUMBER: 03166213) |
BALANCE SHEET |
30 JUNE 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Revaluation reserve |
Other reserves |
Retained earnings | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
WAY GROUP LIMITED (REGISTERED NUMBER: 03166213) |
BALANCE SHEET - continued |
30 JUNE 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
WAY GROUP LIMITED (REGISTERED NUMBER: 03166213) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
1. | STATUTORY INFORMATION |
Way Group Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Computer Software | - |
Office Equipment | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
WAY GROUP LIMITED (REGISTERED NUMBER: 03166213) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 July 2022 |
Disposals | ( |
) |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Eliminated on disposal | ( |
) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
5. | FIXED ASSET INVESTMENTS |
Interest |
Shares in | in other |
group | participating |
undertakings | interests | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 July 2022 | 259,500 | 659,500 |
Revaluations | 229,037 | 229,037 |
At 30 June 2023 | 488,537 | 888,537 |
NET BOOK VALUE |
At 30 June 2023 | 488,537 | 888,537 |
At 30 June 2022 | 259,500 | 659,500 |
WAY GROUP LIMITED (REGISTERED NUMBER: 03166213) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
6. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Amounts owed by group undertakings |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
Advances totalling £480,000 were made to two directors in 2017. Interest at market rates is being charged and paid on these advances. Repayment of £4,573.40 was made between July 2022 and June 2023..Overall balance is £350,000. |
WAY GROUP LIMITED (REGISTERED NUMBER: 03166213) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
10. | RELATED PARTY DISCLOSURES |
Summary of transaction with subsidiary companies |
WAY Investment Services Limited |
The companies share overhead costs which are charged as appropriate. At the balance sheet date the amount owed from WAY Investment Services Limited was £319,273 (2022 - £4,001,388). |
WAY Trustees Limited |
The companies share overhead costs which are charged as appropriate. At the balance sheet date the amount owed from WAY Trustees Limited was £71,738 (2022 - £271,531) and the amount due to WAY Trustees Limited was £Nil (2022 - £Nil). |
Summary of transactions with Companies Under Common Ownership |
Professional Partners Administration Limited |
At the balance sheet date the amount due to Professional Partners Administration Limited was £nil (2022 - £2,922,016 and the amount due from Professional Partners Administration Limited was £642,531 (2022: £623,000). |
WAY Fund Managers Limited |
At the balance sheet date the amount due to WAY Fund Managers Limited was £Nil (2022- £405,875) and the amount due from WAY Fund Managers Limited was £21,196 (2022 - £14,837). |
- |
Formal Inter Group Loans |
At the balance sheet date the amounts due to Group companies was £Nil (2022: £60,000). |